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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 02 June 17
U.S THE PAST WEEK'S COAL PRODUCTION ESTIMATE UP 4.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
Wednesday, 31 May 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
In the next episode of the oil market; The market reacts to OPEC’s production cut extension, the US shale oil producers are ruining the carte ...
Tuesday, 30 May 17
MARKET ANALYSIS - GEORGE LAZARIDIS
Despite the fair performance that has been noted in the Chinese economy over the past 5 months, we have started to see an increase in the skepticis ...
Friday, 26 May 17
MOST COAL PLANTS IN THE UNITED STATES WERE BUILT BEFORE 1990 - EIA
Coal-fired electricity generators accounted for 25% of operating electricity generating capacity in the United States and generated about 30% of U. ...
Friday, 26 May 17
U.S WEEKLY COAL OUTPUT ESTIMATE UP 6.3% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.3 million short ton ...
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- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- The University of Queensland
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- White Energy Company Limited
- Australian Coal Association
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
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